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ESG and Technology Investment: Evidence of Their Synergistic Effect on Corporate Valuation Muh Havid Al Badar; Muhammad Saiful Hakim
International Journal of Multidisciplinary Sciences and Arts Vol. 5 No. 1 (2026): International Journal of Multidisciplinary Sciences and Arts, Article January 2
Publisher : Information Technology and Science (ITScience)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47709/ijmdsa.v5i1.7809

Abstract

This study examines the individual and synergistic effects of digital technology application, represented by information technology capital expenditure (Capex IT), and Environmental, Social, and Governance (ESG) performance on corporate valuation, measured using Tobin’s Q. The analysis investigates whether technology investment and sustainability performance operate as complementary strategic drivers of firm value. The empirical results indicate that Capex IT exhibits a consistently positive and statistically significant influence on corporate valuation, suggesting that technology-related investments enhance operational efficiency, competitive advantage, and market expectations of future growth. In contrast, ESG performance demonstrates a negative and significant relationship with Tobin’s Q across several baseline model specifications, implying that ESG initiatives may not yet be fully priced by the market or may involve short-term costs that outweigh perceived benefits. However, when ESG is decomposed into its environmental, social, and governance components and included simultaneously, the aggregate ESG effect becomes positive and significant, indicating that a more balanced and integrated sustainability structure contributes to value creation. Moreover, the interaction term between Capex IT and ESG Score reveals a positive and significant effect on firm value, providing strong evidence of a synergistic relationship. This finding suggests that digital technology investment enhances the effectiveness, transparency, and market relevance of ESG initiatives. Overall, the results highlight the role of technological capability as a critical enabler that amplifies the value relevance of sustainability performance, offering important implications for managers and investors seeking to integrate digital transformation and ESG strategies to strengthen long-term corporate valuation.
Implementation of Analytical Hierarchy Process in Determining Customer Relationship Management Features in Regional Syariah Banks Nurul Muslimah; Muhammad Saiful Hakim
Equivalent: Jurnal Ilmiah Sosial Teknik Vol. 7 No. 2 (2025): Equivalent: Jurnal Ilmiah Sosial Teknik
Publisher : Politeknik Siber Cerdika Internasional

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59261/jequi.v7i2.255

Abstract

Background: Limited resources and the increasing complexity of service needs pose significant challenges for regional Islamic banks in prioritizing Customer Relationship Management (CRM) system features. PT Bank NTB Syariah faces fragmented customer data management, limited customer behavior analysis, and ongoing regulatory and security compliance demands, necessitating a structured decision-making approach. Objective: This study aims to determine CRM system feature priorities quantitatively and objectively using the Analytical Hierarchy Process (AHP) method. Method: The study employed AHP involving five internal expert panelists representing information technology, business, compliance, and service quality functions. Four evaluation criteria were established: (1) business performance improvement, (2) customer relationship management, (3) customer data and information management, and (4) compliance and security. Pairwise comparisons determined criteria and alternative priorities, with consistency ratios calculated to ensure reliability. Result: The AHP analysis revealed that customer data and information management received the highest weight among the evaluation criteria, highlighting the strategic importance of data in Islamic banking digital transformation. At the alternative level, the Customer 360° View feature obtained the highest priority weight (0.2586), followed by Omnichannel Interaction & Complaint Management (0.2307), and AI Chatbot & Digital Assistant (0.1080). All pairwise comparison matrices achieved a Consistency Ratio (CR) value of ≤ 0.10, confirming consistent and reliable judgments. Conclusion: This study provides a structured multi-criteria decision-making framework based on AHP for prioritizing CRM feature implementation in regional Islamic banks. The findings support measurable and strategic resource allocation while enhancing service quality and accelerating digital transformation efforts.